Bitcoin To Hit $1.4 Million By 2035 Due To Three-Pillar ‘Asymmetric Risk Profile’
Bitcoin’s (CRYPTO: BTC) long-term bull case is shifting from speculation to store-of-value dominance, with Kraken-backed research firm projected the cryptocurrency could climb to $1.4 million by 2035.
Store-Of-Value Model Drives $1.4 Million Target
CF Benchmarks analysts Gabriel Selby and Mark Pilipczuk said in a new report that Bitcoin will slowly take part of gold’s role as a store of value
The report outlines a three-pillar framework combining comparative store-of-value valuation, cost-of-production economics, and sensitivity to global monetary liquidity.
Today, that market is worth about $30 trillion, with gold making up the largest portion.
Analysts modeled multiple scenarios in which Bitcoin captures between 17% and 33% of gold’s market capitalization by 2035.
A probability-weighted blend of outcomes produced a base-case Bitcoin price target near $1.42 million, implying annualized returns of about 30%.
The analysts said Bitcoin offers an “asymmetrical return profile” that differentiates it from traditional asset classes, particularly as adoption broadens among institutional investors.
Rising Production Costs Reinforce Long-Term Floor
The report also looks at how much it costs to produce Bitcoin.
It treats Bitcoin like a commodity, similar to gold, where rising production costs help support price over time.
Bitcoin becomes harder to produce because of halving events, which reduce new supply every four years, and because mining difficulty increases as more computing power is used.
CF Benchmarks estimates that it currently costs about $40,000 to $50,000 to mine one Bitcoin.
The report assumes that …
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